Media releases
Los Cabos, Thursday 24 October 2002 - MVT134/2002
Australia Push to cut Costs and Make Business Easier
Australia is leading the push by Asia Pacific Economic Cooperation
members to reduce business transaction costs and make trade easier
for businesses in the region, Trade Minister Vaile said today.
Attending APEC meetings in Los Cabos, Mexico, Mr Vaile said the Australian-funded
APEC study APEC Economies: Realising the Benefits of Trade Facilitation
released today estimated real income gains of more than $US17 billion
per annum were a direct result of reforms to customs procedures, insurance,
and the transport industry in APEC member economies.
"If APEC achieves its commitment to reduce trade-related transaction
costs by five per cent by 2006 it is estimated that APEC's GDP could
increase by $US154 billion," Mr Vaile said.
"Australia in particular is contributing further to APEC's trade
facilitation objectives by leading four 'pathfinder' initiatives which
will reduce the costs of doing business in the region and promote
trade and investment. The initiatives include quicker and more secure
assessment of passengers for airline travel; harmonized and simplified
customs procedures; electronic certification of health and quarantine
(sanitary and phytosanitary) certificates; and improved corporate
governance.
"Australia will also assist small business (SMEs) by funding a series
of seminars in APEC to identify ways to help SMEs export more. While
SMEs make a significant contribution within individual APEC economies,
accounting for more than 60 per cent of private sector employment
and 30 per cent of direct exports, there is great potential to increase
their role in trade and investment. The seminars will identify ways
to help in this process.
"Since 1990, Australian exports to APEC economies have more than
doubled to $88 billion. An increase in the number of Australian SMEs
exporting will contribute to the Government's target of doubling the
number of exporters by 2006."
Mr Vaile said Australian businesses exporting telecommunications
equipment to the US would also benefit from the signing of an Australia-US
APEC Mutual Recognition Arrangement for Telecommunications Equipment.
"The MRA provides for the testing and certification of telecommunications
products such as modems, GPS sensors and TAG devices, prior to export
to the US creating opportunities for new business and cost savings
for Australian manufacturers," Mr Vaile said.
"These cost reduction initiatives are in addition to APEC's achievements
in reducing tariffs, with two-thirds of trade in APEC now conducted
at tariff levels of between zero and five per cent."
APEC related reports can be accessed at www.dfat.gov.au/apec
Media Contact: Mark Croxford +61 02 6277 7420
Local Date:
Friday, 21-Nov-2008 16:19:00 EST
